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tax hikes is making up, the dow up 189 points at the close. this is what we get from the senate: taxes go up for families making more than $450,000 or more. the top tax rate jumping to 39.6 percent from 35 percent. the deal increases revenues by $600 billion over the decade. the deal does not contain any new spending cuts according to g.o.p. sources. is that a deal wall street should be cheering in we are on top of it with ed henry and charles payne and lauren, and scott martin on the potential economic fallout. charles, follow the rally. what is the message? >> maybe it is over. maybe the sword we have been hearing about is over and impacted the general committee to a point where any deal could be better than no deal. also, it could have been worse that is what we are hearing. dividends taxed at 23 percent with obama's health care rather than 43 percent, that is a sigh of relief. especially older people with fix the investment living east dividends. the big question to wall street is the debt ceiling. they are negotiating three month pause or one year pause. can you imagine how much d
. gregg: this is it. we are just hours away from falling off the so-called fiscal cliff. tax hikes for nearly every american. lots of different ones. spending cuts of totaling more than a trillion dollars. by all indications, nothing, we mean nothing has changed on capitol hill. senate majority leader harry reid saying significant distance remains between the two sides. good morning everyone, i'm gregg jarrett in for bill hemmer here in "america's newsroom.". >> i'm heather childers in for martha maccallum the senate gavels in at 11:00 a.m. we'll see if there was some miracle overnight. gregg: i doubt that. yesterday, republican senate leader mitch mcconnell made an emergency call to the vice president joe biden in an evident to jump-start negotiations. heather: if no deal is haed out today, majority leader reid says he will call a vote on a separate white house plan that reflects's original proposal. gregg: chief correspondent mike emanuel kicks off the coverage. mike, where do the things stand in the fiscal cliff talks at this critical late-stage? >> reporter: gregg, there seems
to hammer out a deal picking tax break ceilings, trying to lessen the impact of spending cuts. there are still major obstacles to pass. but this morning we're hearing that progress is being made. we'll have more on that and the fiscal cliff negotiations in a minute. >>> first, i want to show you the rest of the world is ringing in the new year. midnight arrived in asia. they are calling it a pyre tech nick musical. they were scheduled to begin an hour before midnight. hong kong on the top ten places to ring in the new year. let's listen. ♪ ♪ ♪ ♪ >>> ring in the new year, good morning 2013. we'll continue to monitor all of these celebrations as the day rolls on. the night rolls on in some cases. midnight in the u.s. is the big fiscal cliff deadline. there are two fronts we are watching today. capitol hill and wall street. let's see if there's any movement on capitol hill. stock markets moving up because it's a little erratic. dana bash is watching that live for us. dana, last hour you were saying progress is being made. now you've been hearing rumblings on the opposite
cuts and tax hikes for nearly every american. i'm gregg jarrett. welcome to a brand-new hour. >> arthel: i'm art article. 11th how-hour scrambling after a meeting with president obama and leaders from the house and senate with high noon fast approaching, president is pushing to seal the deal. >> modestly optimistic that an agreement can be achieved. nobody is going to get hundred percent of what they want. let's make sure that middle-class families and the american economy and in fact the world economy are not adversely impacted because people can do their can't do their jobs. >> arthel: now the latest. >> discussions are ongoing but we shouldn't expect any announcements before senators are briefed. key players are pretty tight-lipped. after a white house meeting yesterday, one of the top negotiators sounded hopeful. >> we had a longs meeting in the white house, very constructive. we hope that it will bear fruit. i think that the next 24 hours will be very instructive as to what we're able to accomplish. >> reporter: sources say john boehner referred to his senate colleagues and told th
to avoid some of the tax parts of the fiscal cliff. it would keep tax cuts for the making $250,000 a year or less, extending unemployment benefit and with the clock ticking delay dramatic spending cuts until next year. >> i asked leaders of congress to work toward the package to prevent tax hike on middle class americans protects unemployment surance for 2 million americans. lays the groundwork for work on growth and deficit reduction. that is an achievable goal. >> today's meeting is the first with the president since november 16. sign for republicans that mr. obama has not really been pushing that hard for a deal. >> we need presidential leadership on in the just taxing rich people. >> three words the president did not use. he did not use the word sequester and he didn't say "debt ceiling" either. he focused most of his remarx on preventing taxes from going up. there are also massive spending cuts coming. no idea how they will avert that. he also did not mention the debt ceiling. earlier they wanted lifting the debt ceiling included. now it's clear it's not in the short-term package tha
. the tax cuts that were introduced in 2001, 2003, 2010, those were extended and they're all about to expire at the end of the year. so on midnight, december 31st, if congress doesn't act, then everybody's taxes go up. and for the average family, that could mean a loss of $2,000 in income. for the entire economy, that means consumers have a lot less money to make purchases, which means businesses are going to have a lot less customers, which means that they're less likely to hire and the whole economy could slow down at a time when the economy is starting to pick up and we're seeing signs of recovery in housing and employment numbers improving. so what congress needs to do first and foremost, is to prevent taxes from going up for the vast majority of americans. and this was a major topic of discussion throughout the campaign. what i said was, that we should keep taxes where they are for 98% of americans. 97% of small businesses. but if we're serious about deficit reduction, we should make sure that the wealthy are paying a little bit more and combine that with spending cuts to reduce our def
in on a tax rate compromise in the region of a $450,000 to $550,000 threshold. a higher rate than the president's earlier compromise as well as an agreement on the estate tax. sticking points remain. president obama seemed resigned to going over the cliff. >> if all else fails, if republicans do, in fact, decide to block it so that taxes on middle class families do, in fact, go up on january 1st, then on january 4th the first bill to be introduced on the floor will be to cut taxes on middle class families. >> and this morning former white house spokesman robert gibbs was even more blunt. >> the republicans simply can't utter the word yes. they cannot utter the word yes. i mean, i feel like it's -- i feel like you're talking to a 5-year-old, and, you know, you're saying, look, you have to eat your vegetables. the 5-year-old says, ah, you know, maybe. i will eat half of them, and you say will you eat a quarter of them? i will eat a quarter of them. >> out of control 5-year-old. still, the senate is back at it today trying to resolve the impasse. while the two sides seem to be nearin
the bush tax cuts expire, the payroll tax cuts expire. doctors participating in medicare, see their reimbursements cut by more than 25%. good luck getting a doctor then. more than a trillion dollars in spending cuts are triggered. the economy probably falls back into recession, and merry christmas and happy new year from washington to you, the american people. this basket of problems is what washington calls the fiscal cliff. you've been hearing for months now about the cliff crisis. you've heard a lot about whether or not it will matter, you've heard about the offers and the counteroffers president obama and house speaker john boehner put on the table. if you live in the game area, you're going to be reading about the cliff whether you like it or not. we at starbucks have an opportunity and i believe a responsibility to use our company's scale for good, by sending a respectful and optimistic message to our officials to come together and reach important ground. this week, through december 28th, partners at our washington, d.c., area stores are writing come together on customer
and said he was modestly optimistic about a deal on taxes. meeting this the red room, president obama held firm for tax cuts for families making up to $250,000 per year, and joining me on the north lawn of the white house is kristen welker. kristen, let's listen to what the president said about and up or down vote or what he expects from the senate. >> i had a good and constructive discussion here with the leadership about this tax hike on the middle-class. i am optimistic that we can reach an agreement that will be passed in both houses. if an agreement is not reached in time between senator reid and senator mcconnell, then i will urge senator reid to bring to the floor and up or down vote for the floor, and i believe a p proposal could pass both houses with majorities as long as the leaders allow it to actually come to a vote. if members of the house or the senate want to vote no, they can. but we should let everybody vote. >> kristen, this up or down vote seems to be be the big news of the day, and isn't this what the white house wanted all along? >> well, it is. it is prp's way of sayi
>> tonight over the cliff with a possible parachute. congress is close to a new deal on taxes but won't meet the midnight deadline. nancy cordes and major garrett on what happens next. doctors are monitoring secretary of state hillary clinton who is in the hospital with a blood clot. reports from margaret brennan and jon lapook. mark strassman on a new technology that could stop deadly drunk driving accidents. >> the optical signature registers above .08, then the vehicle will prevent you from moving. >> and with elephants under siege by poachers, m. sanjay meets a woman who has become a foster mother raising baby elephants until they can care for themselves. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> good evening. scott is off. i'm rebecca jarvis. in a few hours, the u.s. will go over the fiscal cliff which could trigger across-the-board tax increases and billions in spending cuts. however, there is hope for a soft landing. senate republican leader mitch mcconnell and president obama said today a deal was close. but late in the day house
and tax increases that goy into effect tuesday morning are totally manmade, totally avoidable, and all sides know it. it's a kind of legislative dooms day machine written by the men and women who work here and signed by president obama. the idea being to make it so painful not to cut a deal on taxes and spending that they would be forced to cut a deal on taxes and spending. except keeping them honest, they haven't done it. even though they knew the stakes, they knew the deadline, and both sides promised that this time things would be different. >> we need to return to fiscal responsibility. >> how is it that we're going to be able to do that? getting our fiscal house in order. >> the american people have spoken loudly. they want us to get our fiscal house in order. >> fiscal handcuffs on this congress that are sorely needed. >> washington is beginning to get its fiscal house in order. >> so they approve legislation that gave everyone nearly a year and a half to reach a long-term agreement on spending and taxes or face truly punishing consequences if they didn't. you'll remember at the
want to use more tax dollars to reduce spending. we'll have the details ahead. >> we are live in time square. they are setting up the barricade and barriers out there. more on that . maria molina is down there am she is tiny amongst the sky scrapers. "fox and friends" begins right now. ♪ ♪ "fox and friends". ♪ it is nice and calm and in a few hours it will be bonkers. >> you have been down on the crazy evening. what time do they get down there? >> they start in the afternoon. they have everything in the gates carrolls -- carols and you can't go anywhere . >> adult diapers. >> pretty much. we talked about it earlier. >> it is new year's eve . if you are partying, time squares just at home we have your cure for the hang over and what you should drink and what you should not drink. >> a whole table. >> peter: i went and bought myself aspargus . what it can do to prevent a hang over. >> first, it is it the final day of the year. we can't really celebrate yet the way we would like tompt >> dave: neither can congress . >> at this hour we don't have closure . we thought it was looking
will happen. everyone's tax rates will go up. $1.2 trillion in federal spending cuts begin to kick in. the payroll tax holiday enacted under president obama will expire. the alternative minimum tax kicks in and several tax deductions will also expire. nbc's danielle leigh is on capitol hill with the latest on the negotiation. danielle, what's the latest? >> reporter: good morning. there's been progress and at 11:00 a.m. this morning the senate is going to get back to work. when they do they will not have a lot of time to come up with a deal to avoid those spending cuts and tax increase. both sides are still divided but just before calling it quits yesterday democratic leader harry reid said he hoped to have an announcement in the morning when the senate gets back network. where are they divided? they are divided at what salary taxes should increase but there was progress on taxes for the wealthiest of americans and avoiding the inheritance increases and they are grateful that republicans have given up on demands for cuts to social security at least for now. now this progress has not c
families the payroll tax cut that started two years ago is worth around 1000 as year. those families tend to spend that cash because they need it now. republicans say this is one tax cut they hate and the last time it was going to expire, the white house launched a whole campaign about $40 a paycheck. they asked families to send in their stories about what $40 meant to them. well, you know something? $40 a still a lot of cash for the families hit hardest by the great recession. for the wealthy people sitting around the negotiating table in d.c., $40 is just another steak dinner for one. but for many people who voted them into office, it's the cost of groceries for a week of family dinners. let's not forget, they are the ones who still need an economic stimulus, not the families earning more than $250,000 a year. joining me today on a newsy day, "the huffington post" sam stein and the national reviews robert costa. sam, i want to start with you. you have been reporting this out all day, and we know that congressional leaders are with the president this afternoon. they haven't made comments
preventing the tax hike on the middle class and we should be able to reach an agreement to pass both house necessary time. >> senate leaders can't strike a deal. it would be a plan c. keeping tax cuts for those making $250,000 or less . extending unemployment benefits and delay dramatic spending cuts until later next year. >> they realize it is it a critical time. >> we are engaged in discussion majority leader and myself and the white house in the hopes we can come forward sunday and have a recommendation that i can make to my conference and the majority leader can make and we'll be working hard to try to get there in the next 24 hours. >> sources say house spheeker bone bone deferred to the senate and house would consider or amend the plan and not expected to be included is the debt limit . leading republican senator said permanence is key and given the certain ty. task and alternative minimum and thres hold of tending bush over $400,000 and $750,000 is a key point. >> heavy lift before the end of the year. >> here for a fair and balanced debate . democraticic of kentucky. you are number
. but the way they for behaving, their only priority is making sure that tax breaks for the wealthiest americans are protected. >> this deal won't affect the debt situation. it will be a political victory for the president. i hope we will have the courage of our convictions when it comes time to raise the debt ceiling to fight for what we believe as republicans. but hats off to the president. he won. >> south carolina senator lindsay graham and president obama -- the state of our fragile economy. president obama made his final argument, placing the blame squarely on congress, specifically, house republicans, mr. obama is cautiously opt mifertic that lawmakers will reach a watered-down deal, but no mention of debt, tax reform or entitlements. i'm shannon bream. the senate will convene in an hour. we have team coverage on capitol hill and at the white house. we start with mike, live on capitol hill. what's the latest on republicans? and how are they reacting to the comments we heard from the president? >> reporter: good afternoon. the critical comments from president obama in a critical stage in t
's explicit from a 20% of gdp to 25% gdp and rather than cut spending raise taxes as necessary to support that spending and i would say that is in fact essentially the french model. and the question is whether it can support enough growth in the economy. >> paul: taxes are going up, we know that, spending, going up for sure even before the health care law kicks in. so, we are moving in that direction, particularly in the entitlement state. not reforming it, but actually expanding it. >> aen what happened this year was the supreme court helping this along, you have the justices essentially rewrite legislation changing the plain text that congress passed in order to declare obamacare constitutional, which is a little scary, that that highest justices in the land would take that sort of activist role and you mentioned france, dan, that's scary. the back drop of this whole presidential year is europe. we know where the path leads. and the turmoil and welfare states and how unsustainability and the high unemployment that comes with them and that was the back drop of our presidential campaign.
taxes on families and small businesses. it was a mandate to work together to begin solving the massive debt that threatens our country's future. >> reporter: the house and the senate will both be back in session tomorrow and the president has said he expects them to quickly vote to pass legislation to avoid the fiscal cliff, if, he and the speaker are able to make a deal before it's too late. gregg: we'll be holding our breath. peter doocy, thanks. >> reporter: yeah. patti ann: the commander-in-chief also spent part of his holiday thanking the troops on a visit to a hawaiian military base. the president and first lady paying tribute to those here and abroad who risk their lives keeping us safe. he took time to honor their families as well. >> so many of you make sacrifices day in, day out on behalf of our freedom, on behalf of our security, and not only do those in uniform make sacrifices but i think everybody here understands the sacrifices that families make each and every day as well. and michelle --. patti ann: the president also made a series of holiday phone calls monday night th
will be raised over the next decade through a series of raises on taxes for the wealthiest americans. and those rates would also carry over for couples making under 450,000. any income above those two numbers would be taxed at 39.6 pnt. the top tax rate under president clinton. and capital gains taxes above those amounts would be increased to 20%, that is up from 15%. this tax deal would also create a perm naanent fix for the alternative minimum tax and extend unemployment insurance for 2 million americans. the president made it clear what his top priority is in any deal. >> preventing that tax hike has been my top priority. because the last thing folks like the folks up here on the stage can afford right now is to pay an extra $2,000 in taxes next year. middle class families can't afford it. businesses can't afford it. our economy can't afford it. >> just an hour later, senate minority leader mitch mcconnell signalled his agreement with the president. >> so i agree, let's pass the tax relief portion now. let's take what's been agreed to and get moving. we all want to protect tax pairs and we c
of the senate. then he is asking republicans to vote for a tax increase for no reason. he wants assurances it would go down to the house floor and be gone for a vote. if that were to happen, you would see it passed out of the house with the democrats and as few as 30 or 40 republicans. john boehner stood by this rule that he wants the majority of majority. boehner and president obama have not spoken over the last few days. there seems to be no communication there. for all intents and purposes, there is a 50-50 sign. a lost folks say more likely than not we go over the slif because they cannot afford it. >> if we go over the cliff, there several million americans who that will impact in terms of people unemployment benefits. maybe they have benefits wrapped up in the market. is there an appropriate sense of urgencey and the amount of pain this will cause in some people's lives. >> to be honest with you and i put my american hat on right now and take off my journalist one, i am perplexed by the lack of urgency from our elected leaders on both sides. this is not a problem that has come up ran
on taxes and spending before the end of the year and they maybe get us into a recession, it's definitely happening. that was the whole point of president obama's press conference this afternoon. >> i still want to get this done. it's the right thing to do for our families, for our businesses, and for our entire economy. but the hour for immediate action is here. it is now. >> allow me a quick update here. that press conference, it came after president obama met with john boehner and nancy pelosi and harry reid and mitch mcconnell, so all the key congressional leaders. and listen to the president here. >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. america wonders why it is that in this town for some reason, you can't get stuff done in an organized timetable. why everything always has to wait until the last minute. well, we're now at the last minute. and the american people are not going to have any patience for a politically self-inflicted wound to our economy. not right now. i just have to repeat. you know,
? there was a lot of talk of small ball. a bill to allow taxes to go up on everybody or at least couples that make more than $250,000 a year. $200,000 with single filers. harry reid said he is not going to prepare a bill unless mitch mcconnell allows it to come for a vote for a simple majority. they are seeking assurances that he won't try to block it. for his part he said it's up to the president to lead. unclear if anything is going to happen today. it's becoming more and more likely we will hit january 1st without a resolution. >> peter, obviously the president gets back a little bit from now. what are we hearing about their strategy? we have that very effective bully pulpit? >> it's a good question. the president is supposed to arrive a couple hours from now. 72 degrees for honolulu. better hope he brings sunshine back with him. the real challenge is when he gets here, there is barely 100 hours before the headline hits. he said a short time ago describing their strategy and it remains not too dissimilar. it's not whether we can get a deal done or not. whether mcconnell will filibuster such a d
that would raise taxes, would they allow it to -- and the answer to that is probably not. democrats have alleged for week now what john bain ser doing is waiting until the gavel is safely in his hands for the next congress. that happens on january 3rd, when they formally elect a speaker. that's one theory, but probably the thing that make the most sense is the fact that then it becomes a vote to cut taxes for 98% of americans, instead of allowing them to rise for 1% or 2%. that is something logically the republicans would probably or more likely go along with, though at this point who knows where we'll end up with on this thing. january 3rd is the new congress. in the days after that, that's the inertia it scenario. >> gentlemen, thanks so that. i appreciate it. >>> we want to bring in today's panel s perry bacon, democratic strategy margie omero, and chip saltzmann. i want to talk about with what steve la tourette had to say today being interviewed on cnn. >> this isn't a one party or a one house problem. this is leaders of both parties and all branches of the government not willing to
hook tragedy. >>> a massive tax hike and spending cuts -- republicans and democrats continue to point fingers in opposite directions, hinting that talks could go into the new year. >> are we going over the cliff? >> i believe we are, and i think the president is eager to go over the cliff for political purposes. he senses a victory at the bottom of the cliff. >> we only have nine days left here. when are we going to get serious about actual solutions? i would welcome john to tell me. he says he wants a solution. give us one, john. >> meanwhile, president obama is spending christmas in hawaii where he and the first lady attended the holiday memorial service for the late u.s. senator from daniel inouye. >> white house correspondent kristen welker. kristen, obviously they always say the white house travels with the president wherever he is. that's where the white house is. the president, though, is enjoying vacation, but still continuing to keep tabs on the fiscal cliff negotiations, correct? >> he is. white house officials describe this as a working vacation. i think there have been may
the cliff unimpeded, it's a $400 billion tax hike. >> outrage after a newspaper gets its hands on the names and addresses of gun permit holders and then publishes the information online. >> the only thing that stops a bad guy with a gun is a good guy with a gun. >> isn't it possible that if we got rid of these, if we replaced them and said you can only have a magazine that carries five bullets or ten bullets, isn't it just possible that we could reduce the carnage in a situation like this? >> i don't believe that will make one difference. >> oh, my god, a tornado. >> winter weather threatening to cause major travel problems for people trying to get home after the holidays. some states dealing with snow, thunderstorms and tornadoes. >> oh, wow. oh, jesus, look at that tornado. >> tonight, john hammer is out of prison and on his way home. >> it was harrowing, because we had to jump from one bridge to another at the last minute just to get a safe place that i could take possession of him. >> this is great right now. i'm glad to be talking to you about that it's over with. i guess it's really o
automatic tax and spending measures that kick in midnight tonight. the bottom line at this hour, we are headed over the proverbial fiscal cliff. we say that because the senate hasn't voted on any kind of deal. you see it there live. and the house has said even if there is a deal, they're not going to bring any bill to a vote on this new year's eve. so the big question tonight, what impact will it have on every american? we have all of it covered, and we begin with nbc's kelly o'donnell for the latest from capitol hill. kelly? >> reporter: good evening, kate. well, congress is out of time, and frustrations are really running over. and while democrats and republicans say they want to find a solution and they are working toward that, they don't have a deal yet, and that means for now there is nothing to vote on before tonight's deadline. with your money on the line, tonight washington can only claim progress. but not success. >> it appears that an agreement to prevent this new year's tax hike is within sight. but it's not done. >> we're very, very close. >> reporter: close comes after
scratching your head over why speaker boehner asked the caucus to vote for raising taxes and promising them that the senate wouldn't bother signing the bill anyway? left you wondering why anyone signs a dock tenant goes against their fiber, document to be used against them with the constituents? about the darn thing was d.o.a. in the senate i? way. the republicans are losing the debate on the fiscal cliff. this is obama's economy. let the president and the democrats own it and own the national debt. own the defense cut. instead, boehner and the gang allow the president to star in his own superhero film. he will cut the hawaiian vacation short and come back to save us mere mortal from the fiscal cliff. winning the optics war and winning it big. juan, how did you get the ball back from the republicans? they had it. this was obama's economy, his face calf cliff. now boehner fails on the vote and next thing you know, the ball is in your court. >> juan: i think you are right. i think boehner at the moment looking weaker. he is out of this altogether at the moment. his troops abandoned him. he is
their taxes go up. the news comes after a conference call that mr. boehner held with gop house members, telling them to return to washington this sunday. but just because they're coming back doesn't mean they're looking to play nice. today, senator harry reid blasted the speaker for refusing to even vote on a democratic plan that would protect 98% of americans. >> everyone knows that if they had brought up the house -- i'm sorry, the senate-passed bill that would give relief to everyone making less than $250,000 a year, it would pass overwhelmingly. it's being operated with a dictatorship of the speaker. >> a dictatorship of the speaker. and here's house speaker boehner office responded. senator reid should talk less and legislate more. legislate more? what legislation has speaker boehner been working on while on vacation? while we're about to go over the cliff, the gop has been pointing fingers at the president. one gop aide says talks have failed because "the president made a strategic miscalculation and overreached. he picked a fight." picked a fight? sorry, that's not going to fly.
brink and taxes going up for all americans. so far, there's been no call for the house to get back to the hill. senators return to the capitol tomorrow. the question remains krks the president join congress and surf the rough political waters to get a deal in time? >> i think he's doing all he can and calving hell at the same time and there's give, give. i think it's very, very difficult, particularly after boehner's plan "b" failed. >> the key issue i think and the american people are catching on is that the problem that we have is we have a right wing political figure in the house way, way, way out of touch of what the american people are thinking. >>> there's early economic sinls that the uncertainty over the cliff may have clayed the role of scrooge this holiday season. early holiday numbers point to the worst year to year growth since 2008. >>> i think the president is steward of this economy needs to try to reach the big compromise with speaker boehner and the two men came very close. >> all right. let's check in and say good morning to nbc news correspondent mike vi cara now
the cliff. i'm. patti ann: i'm patti ann browne. they will try to avoid the across the board tax hikes for 90% of the american households and deep spending cuts. so far little to no progguess has been reported. gregg: chief white house correspondent ed henry is in the white us. ed, what do we expect out the meeting if any at all? our expectations are a little bit low. >> reporter: you're exactly right, gregg, expectations have to be low. lawmakers of both parties in conjunction with the president have missed one deadline after another. we have been saying for a couple weeks they had to get moving get this completed before christmas in order to give the house and senate time to debate and end up voting on whatever package they come up with. now that we're days away from actually going off the fiscal cliff where these automatic massive spending cuts as well as large tax increases got into effect you have to have low expectations. it appears the white house is very confident in waiting for the republicans to make the next move. they keep saying inside the white house this is up to the rep
is expected to return to dc any time he with drew the republican plan b deal that extends tax cuts to everyone under millionaire. he was confident that the cliff could be avoided last time we heard from him. >> of course, hope springs eternal and i know we have in us to come together and do the right thing. we'll work on a plan to protect families and small businesses. >> and so there is time for a in person meeting. >> we are getting some twitter for rick. what is new york city looking like with a nor'easter on thursday. i want to know the answer on that. deadly storm system that pounded the midwest with storm and thousands of tornados heading northeast this morning. oh, my god. that is a tornado. oh, wow. oh, jesus, look at that tornado. >> gretchen: that funnel cocloud was spot indeed mobile, alabama and 10s of thens of people now without power. >> i prayed to god as loud as i could . praying for my safety and i knew and prayed that the truck stayed put and god would protect me. the brutal winds tossed the cars on top of each other and left the neighborhood a complete disaster. >> i never s
over the fiscal cliff. and when that ball comes down in times square tonight, every american's taxes will go up. what happened? >>> the other breaking story tonight. hillary's health. doctors reveal it is a blood clot near mrs. clinton's brain keeping her in the hospital. dr. besser right here with what this means. and what mrs. clinton just told barbara walters after becoming the most traveled secretary of state. >> are you exhausted? >> i am. to be honest, i am. >>> the big chill. a million americans in times square tonight. this evening, the security, the weather. some of the coldest temperatures of the winter. and what we didn't note about something else that will be falling at midnight. ginger zee in times square. >>> and, so long. >> so long. so long. so long. >> the man who said himself, "the show must go on." the first new year's without dick clark, as we heard tonight from his wife. she answers the one question she says so many have been asking her. >>> good evening on this new year's eve. diane counting down with her family. tonight, the other countdown here. the one in was
to avoid the tax hikes and spending cuts that go into effect on the first of the year. president obama had been working with house speaker john boehner and trying to get a big deal that dealt with tax reform and deficit reduction. that fell apart and talks have largely been stalled this entire time. there was a lost pressure to get something done. we have seen some of the impacts of the fiscal cliff. consumers saying they have been more cautious with their holiday spending because of the uncertainty in washington. economists warn it could get worse and the markets could be foiled if we go over the fiscal cliff. taxes will go up for the average american by about $2,000 and could put us back into a recession. >> which nobody wants to see. kristen welker in hawaii. the president is coming back, but they haven't gotten the 48 hour notice. they are very much out there in play. thank you very much for joining us. appreciate it. when the senate returns tomorrow morning, there will be a new emphasis on members taking a larger role in the fiscal cliff negotiations that based off the current offer m
spending cuts and big tax hikes by january 1. the growing number of lawmakers say they are deeply skeptical that a deal can be reached in the next seven days, and we're beginning to hear new reports suggesting the president may have a smaller deal in mind, one that will keep tax rates where they are and, again, put off the issue of spending cuts. chris stirewalt, fox news digital politics editor, host of "power play" on, chris, good to see you. i was reading your recent column, i want to put a portion of it up on the screen, and i'll quote you: gregg: explain what you mean. >> a cheerful christmas thought, gregg. [laughter] merry, merry. no, when we look back at 2012, if you take a minute and look back at the arc of this year in politics, what you saw was the smallest -- it was the most expensive, but it was the smallest presidential election maybe if history. we didn't talk about anything. the president did talk about higher tax rates, but mostly it was as a way to talk about mitt romney's taxes himself. and we didn't talk about much in this except for mitt romney's character a
in making a deal to avert across the board tax hikes for 90% of the american households. it's been 10 days since the president and the speaker held any substantial face-to-face meetings. is time up or is it still possible for both sides to reach a last minute deal? let's put the question to byron york of the "washington examiner". too late or, gosh, maybe this is so easy you can wait until the last minute? >> i guess it depends whether you believe in miracles, gregg. gregg: i don't. >> the only thing that is really happening is the days are ticking by. i think what we've got is, you go first situation here. remember, after the so-called plan b failed in the house, john boehner, speaker of the house said, look, it's up to the senate. we'll not do anything more. we already passed a bill a while back that would extend bush tax cuts for everybody. it is up to the senate to do something. you have senate minority leader mitch mcconnell, the republican saying it is up to the democrats to do something. we'll not do anything until president obama and the democrats come up with a plan and president
with just 36 days to go until tax increases kick, in the white house and congress are playing a high stakes game of let's make a deal. >> only in america believes there has to be this what i believe to be really farcical now surely -- the nature of the world is very fast moving, america has huge economic problems, heading for another fiscal cliff, everyone laughing at you from afar, the american public sick and tired of all the games going on and there are you, grover norquist, a very bright guy still resolutely saying a pledge is a pledge is a pledge, it cannot be broken when many of your own party are now saying you know, what it doesn't make sense to have this irresolute position anymore. >> two things, the pledge is not for life. but everybody who signed the pledge, including peter king, who tried to weasel out of it -- shame on him as the "new york sun" says tonight. i hope his wife understands commitments last a little longer than two years or something. >> whoa, hang on, hang on. that was a bit below the belt, grover. >> hey, if you think a commitment is not for as long as you make i
>>> good morning. fiscal cliff hanger, lawmakers scrambling to make a deal to keep sharp tax increases an spending cuts from taking effect in 36 hours. can washington get it done? we'll find out where the president stands as he talks exclusively to nbc news. >>> moments of impact. dramatic new images of the moment when a passenger jet crashed off the runway in russia on to a roadway killing four people. ♪ >>> and, fishy thing, this london fishmonger whose sales pitch has turned him into an internet sensation. the viral video that has millions of people around the world hooked, today, sunday, december 30th, 2012. >>> from nbc news this is "today" with lester holt and erica hill >>> i'm erica hill. >> i'm carl quintanilla. >> all eyes on washington. a number of americans wondering this morning why lawmakers have not yet been able to reach a deal to avoid the fiscal cliff. president obama spoke exclusively to nbc's david gregory. we are going to get a preview of what he has to say just ahead. >> it has been just two weeks since the tragedy of sandy hook elementary in connectic
the fiscal cliff, just four days left before we go over the edge triggers tax hikes, spending cuts that could send the nation back into recession. the president calling for members of the congress the back. a gang of six attending. vice president biden, harry reid, house minority leader nancy pelosi, mitch mcconnell and john boehner representing the republicans. brianna keilar is live from washington. is anybody optimistic that a deal could be done today around a table? >> i will tell you the optimism is sort of sinking. senate majority leader harry reid said he doesn't see how it can get done by january 1st. we heard from president obama before he left from his vacation that he was optimistic. logistically the white house will tell you it's possible. when you listen to what you're hearing some of these congressional leaders say, there's a lot of posturing laying blame to the other side if we do go over the cliff. take a listen. >> republicans are not about to write a blank check for anything senate democrats put forward because we find ourselves at the edge of the cliff. >> we are here in wa
. as lawmakers take us right up to that fiscal cliff. this evening, three days to go before taxes go up for all americans. will the president's pressure on congress bring in a deal? let's bring in jon karl on this. jon, are they any closer? >> a little closer, but they are certainly not there yet. tonight, congressional leaders are making one last-ditch effort to keep most americans from waking up to a big tax like on new year's day. with just three days left, finally a glimmer of hope. >> i'm hopeful and optimistic. >> whatever we come up with it's going to be imperfect. some people aren't going to a like it. >> reporter: right now, it's all in the hands of the two senate leaders. democratic harry reid and republican mitch mcconnell. they're working on a mini-deal that would prevent a tax increase for roughly 98% of american workers. extend unemployment benefits that are set to expire for some 2 million people. and prevent a huge cut in payments to medicare doctors. what took so long? >> the american people are watching what we do here. obviously, their patience is already thin. this is deja v
cross over the threshold. people are not proposing making the taxes like them. john boehner could not even pass the tax proposal he passed over there. he said no, can't do that. didn't he bring it up for a vote? >> tonight, speaker boehner's office put out this statement. >> joining me now are our guests. clearly the positioning game continues. harry reid saying we did our job months ago. do you think we til would posturing stage at the end of that white house meeting tomorrow? >> in your introduction you made the fundamental point here which is that this agreement before the end of the year, simply cannot go forward unless john by nor is willing to let it do so with majority democrats in the house. if we go over the curve as you put it, they can vote for a large tax decrease becaused off of the new rates that would be reset. they can say we votes to cut taxes for 98% of households. but it is the only scenario that i cap see out there in the near term. >> the building that read has passed. let's lis ep to what mitch mcconnell said about that? >> the senate bill passed with ome dem
taking america right up to the fiscal cliff. three days now until higher taxes for all. will there be a deal? as americans and their 401(k)s already taking a hit. paying a brice because of that standoff. >>> crash landing. the jet that skidded off the runway nearly smashing into a crowded highway. >>> and back in the game. football coach's battle off the field inspired a major turnaround on it. and tonight, he's about to return. >> you're like -- >> tomorrow, a team's prayer answered. >>> good evening. it's great to have you with us here on a saturday night. we do begin here, with yet another holiday storm. the one-two punch this year, and tonight, on a weekend when so many are still traveling, a challenge out there. here's the radar this evening. rain and snow. tonight, it's moving through the ohio valley right into the northeast, from washington up through philly, new york and boston. this is just one of the many scenes on the highways tonight. this is i-83 outside of harrisburg. where several cars collided in the snow. several people were take on the the hospital. al
of it and it's not good. taxes going up for all americans, not a good thing. significant, possibly devastating budget cuts coming down to certainly state and local governments, not a good thing. and so this seemingly bad game of chicken, you know, this is not some schoolyard game here. this is about people's lives, it's about their livelihoods, it's about the future of cities, it's about programs that need the dollars to provide services that the citizens want and expect is lack of doing your job. and so congress, it seems to me, should be flying, literally, back into session to get things done. the marketplace will not reward this inactivity, but more importantly, the psychological confidence that citizens and the business community should have about the ability of congress and washington to actually get stuff done will, again, be shaken. it was mentioned, jonathan mentioned earlier, you mentioned earlier summer of 2011, a useless debate about whether or not we should raise the debt ceiling, had been done 36 times, but we had to have an inane debate about that. now it's the fiscal cliff. and
believes you shouldn't tax anyone right now. i would have supported plan "b." >> you know, that was senator kay bailey hutchison of texas. and i would not be surprised if she's been to a starbucks in the washington area this morning. because at starbucks, in the washington, d.c., area at each of the starbucks locations, they write on the cups, "come together." it's sort of an impetus to maybe get these bozos in the house and the senate to come together in the fiscal cliff. we're going to be talking about the starbucks effort a little later in the show. good morning, ladies and gentlemen. >> good morning. >> good morning. it's thursday, december 27th. i'm mike barnicle in for joe, mika and willie. joining the table, we have political editor and white house correspondent for the huffington post, sam stein. >> hi. >> applause for sam. "fortune's" assistant managing editor, leigh gallagher. and the president of the council on foreign relations, author of "foreign policy begins at home: the case for putting america's house in order." and in washington, vice president and executive editor of msnb
the cliff because then tax less go up. take a listen. >> when i listen to the president i think the president is eager to go over the cliff for political purposes. i think he sees a political victory at the bottom of the cliff. he gets all this additional tax revenue for new programs. he gets to cut the military which democrats have been calling for, for years. and he gets to blame republicans for it. >> reporter: democrats say that is ridiculous, that the president has been working with republican leaders again and again trying to workout some sort of a deal, both on spending and taxes to avoid the fiscal cliff, and democrat chuck schumer yesterday said the real problem is that republicans won't admit the president won the election and that tax rates are going up. take a listen. >> on taxes, i know it's hard for the republicans, but the president ran on that platform, 250, no tax increase for people below, but taxes for people above, he won 60% of the voters said they were for it in the exit polls, including some republicans. >> reporter: all eyes now turning to the possibility
. and a mad scramble is on here in washington to avoid the drastic tax hikes and spending cuts that many fear will plunge the economy back into recession. president obama flies back from hawaii tonight to be ready if the senate comes back with a plan when it returns to work tomorrow. and house leaders are huddling with members on stand-by to return. senior congressional correspondent dana bash is following all of it for us. what are you hearing? >> there was a conference call of course members of the house leadership even, they're back in their districts, but there was a conference call today among those house republican leaders trying to figure out if and when the house should come back into session. two republican sources tell me they did not make a decision on this call. it's still up in the air. and a big reason for that is if anything can get done in the next six days, the ball is in the senate's court. the capitol is a ghost town. neither chamber in session. an eerie calm since the fiscal cliff only congress has the power to avert is less than one week away. from their home, senate demo
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